CoinTracking launches crypto tax tool for UK investors

NewsFinTechCoinTracking launches crypto tax tool for UK investors

MUNICHย , Jan. 9, 2024 Crypto taxation in the UK is quickly changing, butย CoinTrackingย has launched a crypto tax tool that simplifies UK crypto taxes.

Crypto taxes in the UK challenges

The law in the UK taxes cryptocurrencies with tax rates depending on the nature of the transactions, with several caveats that investors need to address each tax season.

Cryptocurrencies can be taxed at a capital gainsย or income level, with tax rates going from 0% to over 40%. Due largely to the complexity of crypto taxation, research indicatesย that over 99% of investors are not reporting their taxes, facing high penalties.

The leading crypto tax software since 2013, CoinTracking, has addressed these challenges and becomes the go-to solution for investors.

A crypto tax tool designed for the UK

With a crypto tax software like CoinTracking, UK-based investors can track their crypto portfolios by importing trades from hundreds of exchanges, crypto wallets and blockchain networks.

From there, investors can benefit from 25+ advanced reportingย features, including discovering which coins in their portfolio could be eligible for a lower tax rateย based on their holding period.

With these features, investors can gather all the necessary information and generate the right tax reports. This is possible due to CoinTracking supporting gains calculations according to the valid accounting method in the UK, the HMRC.

“Crypto taxes are a big challenge across countries, with constant changes to the requirements investors have to follow. CoinTracking supports the needs of crypto investors in the UK to do their taxes in a few steps,” Dario Kachel, founder and CEO of CoinTracking.

CoinTracking launches Full-Service in the UK for a hands-off solution

Investors needing further help with their taxes can find a solution with CoinTracking Full-Service, where a team of CT experts and partner crypto tax firms review, validate & adjust their transactions, complete imports and ensure correct tax reports.

CoinTracking is available in 25+ countries, including the UK, where investors can choose from several services, from premium support to account reviews or a full UK crypto tax return service.

“Full-Service was specially designed for UK investors with complex crypto trades to report and not a lot of time to work out the intricacies of taxes.” Florian Ostermeier, Head of Full-Service.

About CoinTracking

CoinTrackingย is the leading cryptocurrency tax software and portfolio tracker, supporting 1.5 million customers worldwide.

With CoinTracking, investors can import their crypto transactions, track their crypto gains/losses, generate tax reports, and much more.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/cointracking-launches-crypto-tax-tool-for-uk-investors-302027234.html

Read More:

Cryptography: Unveiling the Different Types

Blockchain vs Cryptocurrency: Difference between the two

Related News

    Subscribe


    By completing and submitting this form, you understand and agree to YourTechDiet processing your acquired contact information. As described in our privacy policy.

    No spam, we promise. You can update your email preference or unsubscribe at any time and we'll never share your details without your permission.